Post on 12-Jan-2016
transcript
APIPA 2009 1
WEATHERING THE FINANCIAL STORM
Jeanne H. Yamamura, CPA, MIM, PHD
APIPA 2009 2
INTRODUCTION
• Our world at a glance
• Bolstering the economy
• Top Ten Tips for Tough Times
• Resources
APIPA 2009 3
OUR WORLD AT A GLANCE
• Global economic challenges and issuesGlobal economic challenges and issues• U.S. economic growth slowed – recessionU.S. economic growth slowed – recession• Changing regulatory environmentChanging regulatory environment• Financial markets turmoil Financial markets turmoil • Scandals: Madoff, Satyam, etc.Scandals: Madoff, Satyam, etc.• Social Security questionsSocial Security questions• Public pensions at riskPublic pensions at risk• Shrinking workforce and massive layoffsShrinking workforce and massive layoffs• Sustainability and environmental issuesSustainability and environmental issues
APIPA 2009 4
BOLSTERING THE ECONOMY
• The Economy– Stock Market Loss– GDP Loss– Unemployment– Retirement Savings
• Recovery– Financial Stability
Plans– ARRA 2009– Regulatory
Restructuring
APIPA 2009 5
American Recovery and American Recovery and Reinvestment Act of 2009Reinvestment Act of 2009
Tax Relief37%
State & Fiscal Relief18%
Infrastructure & Science
14%
Protecting the Vulnerable
10%
Health Care8%
Education & Training
7%
Energy5%
Other1%
Where the money is going:
APIPA 2009 6
Overview of Financial Overview of Financial Stability PlanStability Plan
APIPA 2009 7
LOCAL GOVERNMENTS IN FISCAL DISTRESS
• Declining revenues
• Property taxes no longer stable source
• State governments unable to assist
• Increasing demand for services
APIPA 2009 8
WHAT IS HAPPENING IN YOUR GOVERNMENT?
• Table discussion topic– Economic problems occurring in your
government– Actions taken– Actions planned– Outlook?
• Report back to the class on the actions taken and/or proposed in response to the economic downturn.
APIPA 2009 9
APIPA 2009 10
TOP TEN TIPS FOR TOUGH TIMES!
1. Understand and manage your revenue sources
2. Do all you can to control costs.
3. Effectively manage employee costs – for the short term and the long term.
4. Understand your cash position.
5. Pay attention to financing sources and developments.
APIPA 2009 11
TOP TEN TIPS
6. Look at long-term opportunities for better asset utilization.
7. Strengthen controls.
8. Beware of ill-advised actions.
9. Focus on fraud prevention.
10.Keep lines of communication open.
APIPA 2009 12
TIP NO. 1 – UNDERSTAND AND MANAGE REVENUES
• Understand your revenue sources.
• Be realistic!
APIPA 2009 13
REVENUE ESTIMATION
• Plan scenarios and look at your risk management philosophies, risk tolerance and mitigation plans
• Make conservative estimates of revenues– Harder to deal with shortfalls later in the year– How far off are we usually?
• Budgeting less than 100% of a grant
APIPA 2009 14
REVENUE SOURCES
• Consider every revenue source– Will it continue? Will it decrease? By how
much?– Can it be increased?– What do others charge for the same
services?• Evaluate reasonableness of fees.• Consider if higher fees are driving customers to
other providers.
APIPA 2009 15
EXPLORE NEW REVENUE SOURCES
• Be innovative. Are there opportunities for new revenue sources?
• Establish clear cost-recovery goals– How are “costs” defined? Direct costs only?
Fully allocated costs?
• Verify fees are meeting cost-recovery goals
APIPA 2009 16
AUDIT REVENUES
• Many revenues based on self-reporting
• Liability may be understated or misreported
• Auditing can increase revenues
• Benefits– Fair, payment of rightful share– Ensures accuracy and consistency
APIPA 2009 17
EVALUATE FEES CHARGED - COMMON AREAS FOR UNDERCHARGING
• Fees to auto and homeowner insurance companies for – Fire calls, especially false alarm, “jaws of life,”
cleanup of hazardous materials, and non-emergency calls
• Fees for services rendered to non-residents or businesses– Title searches, permit records, voter information,
research, “extras” on road construction, tree planting
APIPA 2009 18
EVALUATE FEES CHARGED
• Have departments regularly review their fees to ensure they are kept updated– May need to tie operating budgets to program
revenues to ensure attention paid to fees
APIPA 2009 19
IMPROVE BILLING AND COLLECTION PROCEDURES
• Standardize billing procedures for all receivables– Insurance claims, damage claims, rebates,
fees for service
• Ensure nothing “falls through the cracks” due to lack of communication between departments and staff
• Diagram exceptions procedures– Who has authority to approve exceptions and
under what circumstances?
APIPA 2009 20
IMPROVE BILLING AND COLLECTION PROCEDURES
• Establish consistent and fair collections efforts– Cannot ignore debt one year and expect
collection success in the following year
• Collections procedures– Clearly stated– Publicly available– Consistently applied
APIPA 2009 21
IMPROVE BILLING AND COLLECTION PROCEDURES
• Coordinate collections efforts between agencies– Different levels of government have overlapping
revenue streams, e.g., property and income taxes• Reconcile filings with related agencies• Local income tax records to state records and IRS
filings• Property tax records to utility bills, other agency
property tax records, and court records
• Consider amnesty program
APIPA 2009 22
TIP NO. 2 – CONTROL COSTS
• Look at incremental cost reductions– Small things can add up!– For example – electronic distribution instead
of paper?– Also more environmentally sound!
• Explore opportunities to consolidate back office operations at smaller agencies– With larger agency in same functional area,or– In a central service agency
APIPA 2009 23
REDUCE COSTS
• Evaluate the possibility of partnering with other governments– Buying collaboratives– Systems– Functions
• Consider contingent-fee based cost avoidance audits– Vendors find ways to cut costs
APIPA 2009 24
OTHER COST REDUCTION STRATEGIES
• Consider revenue maximization– Vendors find new sources of revenue
• Publicize what you are doing for savings– Solicit creative ideas
• Remember public perception is important– Be conservative with travel and meeting
arrangements– NO PRIVATE PLANES!!!– Look at travel reimbursement policies
APIPA 2009 25
ENHANCE PURCHASING PRACTICES
• Identify bulk purchases– Identify items that make up bulk of purchasing– See if new quotes or suppliers can lower
costs– Encourage or require joint purchasing of
similar items by departments (e.g., office, janitorial, communications supplies)
APIPA 2009 26
ENHANCE PURCHASING PRACTICES
• Standardize– Develop standard specifications for
commodity items– Will aid in obtaining better terms from vendors– For example: standardizing desktop personal
computers
APIPA 2009 27
ENHANCE PURCHASING PRACTICES
• Investigate prompt payment discounts– Find out if available– Take advantage!!– May require contacting suppliers and
apologizing for past behavior!– Institute practices to ensure late payment
penalties avoided
APIPA 2009 28
ENHANCE PURCHASING PRACTICES
• Inspect incoming purchases– Hold suppliers accountable for delivering the
right goods in the right quantity and in good quality
• Long-term contracts– Develop multiyear contracts with vendors if
they will offer and/or guarantee lower prices– For example: Construction-related activities,
landscape, printing, mid and heavy equipment
APIPA 2009 29
ENHANCE PURCHASING PRACTICES
• Just-in-time purchasing– Use JIT purchasing for readily available
products to reduce or eliminate warehousing and inventory costs
– May be possible to obtain vendor-supplied ordering software
• Maintain competition– Evaluate vendors frequently to verify value
and accuracy– Professional services as well as commodities
APIPA 2009 30
ENHANCE PURCHASING PRACTICES
• P-cards– Significant advancements in individualized
controls for purchases– Will support JIT purchasing environment as
well as reduce purchasing costs– IF PROPERLY CONTROLLED
APIPA 2009 31
ENHANCE PURCHASING PRACTICES
• Adopt “Winning Compliance” strategies– Reduce purchasing costs by
• Simplifying processes• Posting simplified procedure manuals on an intranet• Using technology to speed up the procurement
process– Enables purchasing staff to focus on
• Honing negotiating skills• Working with departments to narrow bid
specifications• Looking for ways to save money and to make it
easier and faster for departments to get what they need
APIPA 2009 32
TIP NO. 3 – MANAGE EMPLOYEE COSTS
• Effectively manage employee costs – for the short and long term
• One of, if not THE, major costs for any government
APIPA 2009 33
BOTTOM-UP APPROACH
• Take bottom-up approach to your budget– Why are you in a particular program? – Is it necessary to the core mission of your
entity?
• Careful analysis will enable better FTE management
APIPA 2009 34
NEEDED REFORMS
• Use crisis as opportunity to propose and pursue needed reforms– For example: Restructuring pensions and
retirement benefits
• Important to long-term financial health and viability
• May be best chance for sustainable benefit levels going forward
APIPA 2009 35
UNION AGREEMENTS AND LABOR LAWS
• Review all union agreements and labor laws– What is in negotiated agreements?– What is practiced with regard to employee
benefits?
• Seek opportunities to make adjustments that will benefit present and future
APIPA 2009 36
VACANT POSITIONS
• Examine every vacant position before refilling– Is it necessary?– Can you reorganize to distribute duties
differently and eliminate any positions?
• Consider impact on internal control– How do layoffs and vacancies affect internal
controls, especially in areas over assets susceptible to misappropriation and fraud?
APIPA 2009 37
OVERTIME• Evaluate overtime use
– What is the ratio of overtime to regular wages or wages and benefits?
– Can overtime be reduced by different patterns for scheduling or expanded use of PT personnel?
• Make managers manage overtime– For example: In one county, all OT drawn
from a central account, shared by all departments. Withdrawals require justification.
APIPA 2009 38
ADDRESS HEALTH CARE COSTS
• Health care costs – large and rapidly growing
• Reduction tactics– Identify cost drivers, especially for health care
and disability claims• Prescriptions? Increase co-pays, switch to generic
brands• Common on-the-job (OTJ) injuries? Increase
preventive training
APIPA 2009 39
ADDRESS HEALTH CARE COSTS
• Seriously consider wellness options– Health system promotions– Health club memberships at a discount
• Verify participants– Conduct eligibility audit
• Dependents who no longer qualify?
• Former employees?
• Spouses with coverage from another employer plan designate other plan as primary
APIPA 2009 40
TIP NO. 4 – UNDERSTAND CASH POSITION
• Cash is king!!
• Local governments cannot “print” money like the federal government
• Borrowing ability may be reduced or very expensive
• Bank reconciliations need to be current!!!
APIPA 2009 41
FORECAST YOUR CASH
• Cash flow reporting essential in financial crisis.
• Prepare daily, weekly, monthly, and quarterly forecasts– Review forecasts annually– Compare to actual on day-to-day basis
• Evaluate risks that might affect your cash forecast
APIPA 2009 42
REVIEW TRUSTS AND OTHER DORMANT ACCOUNTS
• Consider sweeping cash into the general fund
• If possible, do it!
APIPA 2009 43
INTERCEPT CASH
• For example – offset tax refund against amount owed on student loan
• See if possible to join state refund setoff programs that allow local government to collect on unpaid utility bills or other customer AR by filing claims with state tax refund departments
APIPA 2009 44
ABANDONED PROPERTY AND CREDIT MEMOS
• Search abandoned property (unclaimed property) at least monthly to see what can be reclaimed with state tax refund departments
• Perform vendor credit memo searches. Do not pay vendors with whom you have credit until the situation is resolved.
APIPA 2009 45
TIP NO. 5 – FINANCING SOURCES
• Pay attention to financing sources and developments
• Keep abreast of developments in the various stimulus packages
• Pay special attention to expected federal funding for infrastructure projects
• Maximize opportunities to make lasting infrastructure improvements
APIPA 2009 46
CAPITAL MARKETS
• Be aware of capital market developments and structure (or re-structure) major financings– To increase access– To reduce borrowing costs
APIPA 2009 47
INVESTMENT MANAGERS AND CUSTODIANS
• Perform due diligence on financial institutions and other fiduciaries that hold your investment portfolio– If it sounds too good to be true, BEWARE!!– Remember Madoff– Ponzi schemes are rampant!
APIPA 2009 48
EARN HIGHER YIELDS SAFELY
• Look for opportunities to earn higher yields on excess cash with relatively low risk investments– Governments are usually allowed to invest in
variable rate municipal securities, issued by credit-worthy governments
– In most cases, these remain safe investments
APIPA 2009 49
TIP NO. 6 – ASSET UTILIZATION
• Look at long-term opportunities for better asset utilization
APIPA 2009 50
ASSET UTILIZATION STRATEGIES
• Consider leasing or renting assets like cars and trucks for motor pool
• Look at stranded or little-used assets that could be leased to someone else– Don’t sell!!!
• Review tax abatement and economic development incentives for updating or modification– For example: Payment In Lieu of Taxes (PILOT)
agreements
APIPA 2009 51
TIP NO. 7 – STRENGTHEN INTERNAL CONTROLS
• Internal controls key to effective operations
• Strong role in preventing fraud• Increased risk
– Employee layoffs increase vulnerability– Staff morale low
• 20 question diagnostic over payment controls – answer each question YES or NO
APIPA 2009 52
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
1. Do you require all employees who have anything to do with the payment process to take at least 5 consecutive days of vacation?
2. Do you prohibit the ability to both approve invoices and enter invoice data?
APIPA 2009 53
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
3. Do you prevent one or more of your managers/executives from having access to all phases of the payment process, even though it might make training and managing more difficult?
4. Do you have a strong policy prohibiting the return of checks to requisitioners?
APIPA 2009 54
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
5. Are all changes made to the master vendor file periodically checked, no less frequently than once a month, but ideally every week?
6. Do you periodically (at least once a year) deactivate inactive accounts in your master vendor file?
APIPA 2009 55
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
7. Do you have an anonymous tip hotline?
8. Do you periodically check that your processors are not writing their passwords down where anyone can see them?
APIPA 2009 56
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
9. If you have a petty cash box, do you make sure that the location of the key is not common knowledge?
10.Do you wait until the end of the day to deliver checks to the mailroom for mailing?
APIPA 2009 57
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
11.Are unsigned checks always left in a secure location while waiting for signature – and not on someone’s desk in an empty office?
12.Is the positive pay file uploaded only when checks are mailed?
APIPA 2009 58
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
13.Are checks only printed only when they are going to be mailed – not earlier so they will reflect a date that matches your payment terms?
14.Are open receivers and POs always extinguished when an invoice is paid even if the invoice is paid outside accounts payable?
APIPA 2009 59
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
15. Is access to the master vendor file for entering vendor changes or changing vendor information severely limited?
16.When an employee making electronic payment transfers is terminated or leaves voluntarily, is the bank and procurement card administrator immediately notified and passwords changed?
APIPA 2009 60
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
17.When a new vendor is to be entered into the master vendor file, do you require at least two signatures or approvals before adding them?
18.When a new vendor is to be entered into the master vendor file, do you do some checking to make sure the vendor is legitimate before adding them?
APIPA 2009 61
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
19.If you have a petty cash box, do you hold surprise audits and does everyone know you do that?
20.Do you have a written fraud policy, signed by a top-level executive, indicating zero tolerance for employee fraud?
APIPA 2009 62
ARE YOUR INTERNAL CONTROLS GOOD ENOUGH?
• Preferred response – YES!
• No perfect organization
• NO indicates vulnerability
• Look into NOs and determine if possible to tighten controls
• If cannot tighten, plan to regularly audit problem areas
APIPA 2009 63
TIP NO. 8 – ILL-ADVISED ACTIONS
Beware of taking ill-advised actions in a rush to just do something!
APIPA 2009 64
UNDERFUNDING
• Don’t underfund accrued liabilities like pensions– Sticks tomorrow’s generations with today’s
bills– Can negatively impact bond ratings, public
perception, and employee relations
APIPA 2009 65
COST-SHIFTING
• Don’t shift operational costs into capital budgets.– Distorts true cost of capital investments– Usually not allowable!
APIPA 2009 66
ACCOUNTING MANIPULATIONS
• Don’t be tempted to use accounting manipulations to improve your results– For example:
• Delaying deliveries, payrolls, and payments to next fiscal year
• Manipulating or distorting estimations or forecasts• Recognizing anticipated (or worse, speculative)
savings or revenues
APIPA 2009 67
TIP NO. 9 – FRAUD PREVENTION
• In best of times, fraud expensive
• In worst of times, fraud could be disastrous!
• A few questions to check your knowledge of fraud prevention, detection, and investigation
APIPA 2009 68
WHAT’S YOUR FRAUD IQ?1. Under the concept of ______________,
corporations can be held criminally responsible for the acts of their employees if those acts were done in the course and scope of their employment and for the apparent benefit of the corporation.
A. Connected accountabilityB. Civil responsibilityC. Imputed liability
APIPA 2009 69
WHAT’S YOUR FRAUD IQ?
C. Imputed liability• Corporations can be held legally responsible
for the criminal acts of their employees in certain circumstances
• For example – company could be criminally liable for controller committing financial statement fraud• Even if supervisors unaware of his actions!
APIPA 2009 70
WHAT’S YOUR FRAUD IQ?
2. Stephen Latimer is the lead auditor for Island Power, a component unit providing energy. With the economic downturn, company management has been under increased pressure for profitable operations, and the company is in danger of violating its loan covenants.
APIPA 2009 71
WHAT’S YOUR FRAUD IQ?
2. Stephen is concerned that management may be fraudulently concealing liabilities and expenses to improve the company’s financial statements. He performs his preliminary analytical procedures with these factors in mind. Which of the following is a red flag that might reaffirm Stephen’s suspicions?
APIPA 2009 72
WHAT’S YOUR FRAUD IQ?
A. The company’s gross margin is significantly lower than industry average.
B. The company has experienced an unusual increase in the number of days’ purchases in accounts payable.
C. The financial statements reflect an unusual change in the relationship between fixed assets and depreciation.
D. The company shows a significant reduction in accounts payable, even though its competitors are stretching out payments to vendors.
APIPA 2009 73
WHAT’S YOUR FRAUD IQ?
D. Concealing operating expenses and related payables reduces AP
- Unusual given other companies in industry
APIPA 2009 74
WHAT’S YOUR FRAUD IQ?
3. Which of the following is considered a fraud preventive control?
A. Employee support programs
B. Segregation of duties
C. Employee background checks
D. All of the above
APIPA 2009 75
WHAT’S YOUR FRAUD IQ?
D. ALL, if properly implemented, will help prevent fraud- Employee support programs
- Financial, drug, and family counseling - Assist employees in dealing with
pressures- Segregating incompatible duties
- Eliminates opportunity- Background checks - Prevents hiring mistakes
APIPA 2009 76
WHAT’S YOUR FRAUD IQ?4. The concept of the fraud triangle states
that, for a fraud to occur, three factors generally are present. Which of the following is NOT one of the three sides of the fraud triangle?
A. Criminal predisposition
B. Incentive or pressure
C. Perceived opportunity
D. Rationalization
APIPA 2009 77
FRAUD TRIANGLE
FRAUDTRIANGLE
Pressure (Motive)
Opportunity Rationalization
Correct answer = A
APIPA 2009 78
WHAT’S YOUR FRAUD IQ?
5. In general, the best way to prevent fraud is to:
A. Implement harsh penalties for perpetrators.
B. Outsource all possible functions.
C. Increase the perception of detection.
D. Conduct covert audits.
APIPA 2009 79
WHAT’S YOUR FRAUD IQ?
C. Most fraud perpetrators commit fraud ONLY when they perceive an opportunity to be present.
So increasing in employees’ minds the perception that illegal acts will be detected can significantly deter fraud
APIPA 2009 80
WHAT’S YOUR FRAUD IQ?
6. __________ is defined as “the totality of circumstances that would lead a reasonable, professionally trained, and prudent individual to believe a fraud has occurred, is occurring, and/or will occur.”
A. ProofB. EvidenceC. SuspicionD. Predication
APIPA 2009 81
WHAT’S YOUR FRAUD IQ?D. Predication is the basis for a fraud
examination. It is the set of circumstances that leads a reasonable professional to believe that a fraud has, is or will occur.Example: While conducting an audit, an auditor overhears purchasing agent bragging about substantial discount on new car from company’s supplier of fleet cars. Predication for fraud examination.If auditor only witnessed purchasing agent in expensive car, would only have suspicion (insufficient for fraud examination)
APIPA 2009 82
WHAT’S YOUR FRAUD IQ?
7. Which of the following is NOT an element generally included as part of a fraud risk assessment?
A. Risk identification
B. Formal fraud policy development
C. Assessment of likelihood and significance of risks
D. Risk response
APIPA 2009 83
WHAT’S YOUR FRAUD IQ?B. Formal fraud policy not one of steps in fraud
risk assessment
Fraud risk assessment involves• Identifying fraud risks inherent to the
organization• Assessing the likelihood and significance of the
fraud risks identified• Deciding on the appropriate responses to the
identified risks
APIPA 2009 84
WHAT’S YOUR FRAUD IQ?8. The three primary categories of
occupational fraud are:A. Corruption, financial statement fraud, and
asset misappropriationB. Skimming, money laundering, and bid
riggingC. Asset misappropriation, identity theft, and
fictitious revenuesD. Financial statement fraud, inventory theft,
and cash larceny
APIPA 2009 85
WHAT’S YOUR FRAUD IQ?A. Occupational fraud = fraud committed by an
employee against an employer
Three primary categories of occupational fraud
• Corruption = Use of influence for self-benefit, e.g., bribes
• Financial statement fraud = Intentional misstatement or omission of material information from FS
• Asset misappropriation = Theft or misuse of company resources
APIPA 2009 86
WHAT’S YOUR FRAUD IQ?
9. Jason Aubuchon is conducting an investigation into a possible accounts receivable lapping scheme at Micronesian Visitors Bureau. If Jason plans to interview all of the following parties, whom should he interview first?
APIPA 2009 87
WHAT’S YOUR FRAUD IQ?
A. Frank, the primary suspect.
B. Martha, an accounts payable clerk who filled in for Frank when he was on vacation
C. Evan, a regular customer of the company whose complaint about his account balance prompted the investigation
D. Sarah, Frank’s supervisor, who is suspected of helping Frank cover the fraud in exchange for a portion of the proceeds
APIPA 2009 88
WHAT’S YOUR FRAUD IQ?C. Collection of evidence should progress from
general to specific
Investigator proceeds in order from witnesses least likely to be involved to those most culpable
1. Neutral third-party witnesses (Evan)2. Corroborative witnesses (Martha)3. Co-conspirators (Sarah)4. Suspect (Frank)
APIPA 2009 89
WHAT’S YOUR FRAUD IQ?
10.Most employees who commit fraud have a history of fraudulent misconduct.
A. True
B. False
APIPA 2009 90
WHAT’S YOUR FRAUD IQ?
FALSE
2008 Report to the Nation on Occupational Fraud and Abuse
87% first-time fraud offenders
83% never punished or terminated for fraudulent behavior
APIPA 2009 91
TIP NO. 10 – OPEN COMMUNICATION LINES
• A difficult problem in the best of times
• Solution will be a group effort– Employees– Constituencies– Managers– Vendors– All affected parties
APIPA 2009 92
COMMUNICATION
• Build credibility with frequent, clear, and honest communication
• Manage perceptions– Speak up – frame the situation for others– Be honest about what is achievable
APIPA 2009 93
COMMUNICATION
• Sharing information can help– To avoid rigid reactions– May keep everyone open to different options
for solutions
• Employees take their cues from the leaders
APIPA 2009 94
CULTURE OF THRIFT
• Establish a culture of thrift– Every dollar counts!– Terminate temporary help and redeploy existing staff
to fill gaps– Cutback sharply on office equipment– Delay replacement of vehicles– Control travel and expenses– Engage employees in auditing small expenditures– Take action on very big items or very visible issues
such as management vehicles and other perks
APIPA 2009 95
CULTURE OF THRIFT
• Management must set an example for everyone to follow. Remember the “tone at the top.”
APIPA 2009 96
OPPORTUNITIES
• Recognize opportunities within crisis– Organizations often do not change until a
major event occurs– This may be a “game-changing” time that can
be used to break free of constraining past practices and habits
– May have to spend money to save money
APIPA 2009 97
EMPLOYEES’ ASSISTANCE
• Employees will respond with creativity and ingenuity IF– They believe that their suggestions will be
heard and valued
APIPA 2009 98
RESOURCES
• AICPA– Government Accountability Brief – January 2009 &
March 2009– Navigating the Current Economic Crisis: What It
Means for Businesses – March 2009
• GFOA– Fiscal First Aid
• Andi McNeal, What’s Your Fraud IQ?• Mary Schaeffer, Are Your Internal Controls Good
Enough?
APIPA 2009 99
QUESTIONS?